The global X-ray systems market size was valued at $6.7 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 2.3% from 2022 to 2030, according to Grand View Research.
A major factor driving the market is an increase in the demand for early-stage diagnosis of chronic diseases. In addition, continuous technological advancements, an increase in product development, improved fundings, and investments by the government, especially in developing countries, such as India and China, are also expected to contribute to the market growth. For instance, in June 2021 the government of India launched X-Ray Setu, a free Artificial Intelligence (AI) based platform to aid doctors for early COVID interventions.
According to Mordor Intelligence, the digital X-ray devices market is projected to register a CAGR of 8.16% during the forecast period (2022-2027).
The COVID-19 pandemic has turned the spotlight on diagnostic imaging, particularly on digital X-ray devices. Digital imaging plays a key role in the diagnosis of COVID-19 and indicates the affected lung tissue in infected patients. Several key market players had focused on innovations in the production of radiography equipment. For instance, in December 2020, Agfa HealthCare launched its new SmartXR for X-ray Artificial Intelligence (AI) for digital radiography portfolio to aid during the radiology routine, which has proven important during the COVID-19 crisis. Thus, during the pandemic, the digital X-rays devices market is expected to be positively impacted by COVID-19 accurate diagnosis and treatment.
The studied market growth can largely be attributed to factors, such as the increasing occurrence of orthopedic diseases and cancers, the increasing number of serious injuries, the advantages of digital X-ray systems over conventional X-rays, technological advancements, and product development. Digital X-ray devices use digital x-ray sensors instead of films to capture images. This results in an immediate preview of the images that ultimately improves time efficiency and capacity to digitally transfer images.
The major advantages of digital imaging are cost-effectiveness and easy accessibility. The hospitals can manage the cost-cutting by lowering the film price, reducing the requirement of storage space, and decreasing the number of people required to run the services and archive sections. The images are also instantly available for distribution to the clinical services without the time and physical effort needed to retrieve film packets and reviewing previous imaging on a patient is much easier. This factor majorly impacts the growth of the digital X-ray devices market. Digital X-rays expose approximately 70-80% less radiation than conventional X-rays. This is hugely beneficial for the long-term health of patients, especially pregnant women or patients who are already suffering from illness, thus ensuring safety. With the help of digital X-rays, dentists can now easily recognize oral issues, which is leading to a declining need for an invasive investigation at the diagnosis stage. Additionally, digital radiography safely stores patient X-rays, resulting in no loss from the holders.
Also, due to the increase in the number of dental disorders, cardiac disorders, cancers especially breast cancer, there is an increased demand for digital X-ray devices globally.
The global digital X-ray market size is expected to reach $22.42 billion in 2030 and register a steady revenue CAGR of 8.1% over the forecast period, according to analysis by Emergen Research. Digital X-ray market revenue growth is primarily driven by factors such as advantages of digital X-ray systems over conventional analog systems. More precise analysis is possible with digital X-ray and it contains quick, accurate and objective automatic slide analysis techniques. Additionally, it provides quick access to earlier related occurrences for scientists, stores data for long-term predictive analytics, and aids in quicker and more accurate detection of serious illnesses such as tumors by doctors. It also offers advantages including mistake reduction, enhanced imaging and increased productivity. Analog X-ray imaging is being rapidly replaced by digital X-ray sensors, which are utilized in place of conventional photographic film.
